Nigerian billionaire, Abdulsamad Rabiu, has lost his position on Africa’s richest list to Egyptian billionaires, Nassef Sawiris and Naguib Sawiris, following the naira devaluation by the Central Bank of Nigeria.
Prior to the devaluation of the naira on Wednesday, Rabiu was ahead of the Sawiris brothers, occupying the fourth spot with $8.27 billion, according to the African Billionaire Index data obtained from Bloomberg and analysed by Ripples Nigeria.
He sat above Natie Kirsh of South Africa, who was worth $7.33 billion and ranked fifth. At the time Nassef’s estimated net worth was $7.30 billion, which placed him in the sixth position, ahead of Naguib, whose fortune was valued at $5.93 billion, ranking him at the seventh spot.
